Weaver Capital Management LLC Purchases 4,853 Shares of Chevron Corporation (NYSE:CVX)

Weaver Capital Management LLC lifted its position in shares of Chevron Corporation (NYSE:CVX) by 349.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,242 shares of the oil and gas company’s stock after purchasing an additional 4,853 shares during the period. Weaver Capital Management LLC’s holdings in Chevron were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. CCG Wealth Management LLC increased its stake in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after purchasing an additional 145 shares during the period. Marietta Wealth Management LLC grew its position in Chevron by 5.1% during the first quarter. Marietta Wealth Management LLC now owns 42,886 shares of the oil and gas company’s stock worth $7,174,000 after buying an additional 2,080 shares in the last quarter. World Equity Group Inc. grew its position in Chevron by 3.1% during the first quarter. World Equity Group Inc. now owns 8,569 shares of the oil and gas company’s stock worth $1,402,000 after buying an additional 260 shares in the last quarter. GAM Holding AG grew its position in Chevron by 24.3% during the first quarter. GAM Holding AG now owns 11,193 shares of the oil and gas company’s stock worth $1,872,000 after buying an additional 2,187 shares in the last quarter. Finally, Stonegate Investment Group LLC grew its position in Chevron by 1.3% during the first quarter. Stonegate Investment Group LLC now owns 790,099 shares of the oil and gas company’s stock worth $132,176,000 after buying an additional 9,795 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.8%

Shares of CVX stock opened at $149.36 on Friday. The stock’s fifty day moving average price is $139.37 and its two-hundred day moving average price is $148.72. The company has a market cap of $260.84 billion, a PE ratio of 17.07, a P/E/G ratio of 2.60 and a beta of 0.83. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.93 EPS. Equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were given a dividend of $1.71 per share. The ex-dividend date was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.58%. Chevron’s dividend payout ratio is currently 78.17%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Wells Fargo & Company reduced their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. UBS Group reduced their price target on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $160.24.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.